Loan Agreement

1. Highlighted Loan Attributes

Our loans are tailored with adaptability and customer-focused conditions to suit your requirements:

Max Loan Sum: ₹4 lakh
Loan Duration: 91 to 360 days
Processing Charge: Up to 2% of the loan amount
Annual Percentage Rate (APR): 18.95%

Illustrative Loan Breakdown

For a ₹30,000 loan with a 6-month repayment tenure at an APR of 18.95%:
Processing Fee + GST (18%): ₹600 + ₹108 = ₹708
Loan Released: ₹29,292 (after processing fees)
Total Interest Due: ₹2,804
Overall Loan Expense: ₹3,512
EMI (Monthly Payment): ₹5,467
Total Repayment Sum: ₹32,804


2. Loan Amount Confirmation Process

The loan amount to be disbursed will be directly based on the amount requested by the borrower in their loan application to the lender. Both the lender and the borrower will confirm and agree upon the specified loan amount before proceeding, ensuring all actions are taken in line with the provisions detailed in this agreement.


3. Repayment Schedule and Terms

· Commencement of Repayment: The borrower agrees to begin the repayment of the loan, covering both the principal and the interest, following the repayment schedule and method outlined in this agreement, starting from the agreement's effective date.

· Delayed Payment Penalties: In instances of delayed payments, the borrower will incur overdue interest charges at an annualized rate previously consented by both parties, accruing from the overdue date until the complete repayment of the due loan principal and accrued interest.

· Prepayment Rights: The borrower reserves the privilege to prepay either the full amount or a portion of the loan principal and interest before the designated end of the repayment term.


4. Lender Commitments

a. Loan Provision: Budhiya Cash commits to disbursing the agreed loan amount to the borrower as a single payment, strictly adhering to this agreement's conditions.

b. Repayment Assistance: Budhiya Cash will outline a comprehensive repayment plan, detailing the schedule, amounts due, and other pertinent information, to facilitate timely repayment by the borrower.

c. Privacy Assurance: Budhiya Cash pledges to maintain the confidentiality of the borrower's personal data and repayment history, ensuring no disclosure or misuse.



5. Borrower's Pledges

a. Contractual Compliance: The borrower affirms their comprehension of and commitment to the terms contained within this loan agreement.

b. Authenticity of Submitted Details: The borrower assures the lender of the complete authenticity and accuracy of all submitted information, devoid of any inaccuracies or omissions.

c. Assurance of Repayment: The borrower guarantees the full and punctual repayment of the loan's principal and interest, following the plan provided in the application.

d. Credit Evaluation Agreement: The borrower acknowledges the loan provider's right to assess, at any given time, the borrower's credit standing and the capability for repayment.


6. Financial and Legal Liability for Breach

a. Interest Liability on Late Repayment: Borrowers failing to meet the agreed repayment terms will be liable for overdue interest as dictated by this Agreement.

b. Legal Recourse for Default: Budhiya Cash is authorized to take legal steps to impose liability on the borrower for not repaying the loan and interest punctually, which might include credit reporting and initiating lawsuits.


7. Agreement Modification Process

For any modifications, including changes or amendments to this Agreement's terms, a written form is required, which must be mutually agreed upon and officially signed by both parties to be valid.